{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

POL 333 Journal 11 - This article shows that there is great...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Financial Times Lisbon shapes austerity budget Parliament backs broad proposals Borrowing costs jump sharply November 4, 2010 This article talks about how the Portuguese government has approved a budget that has  some major budget cuts in it.  They did this in an attempt to stabilize their markets, which by  many see them as needing financial assistance from the European Union in the fairly near future.  Portugal thinks and says they do not and will not need financial help from others and that they  can take care of all their business on their own.  As a result of this fear the other European  nations have about Portugal possibly needing assistance has made the cost of borrowing money  much higher than what it was previously.  This in itself is making it harder for the Portuguese  government to cut spending.
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: This article shows that there is great tension in Europe over financial matters. With Greece and Ireland already receiving bailout money, many are afraid that Portugal and Spain will be next in line to receive the assistance. This in turn causes prices to rise and when the governments try to make cuts they have to spend more just from borrowing the money. This shows a flaw that the common economy and currency of Europe is causing. Some of the nations that took the Euro were not ready as is clearly seen with these massive bailouts. This leads to the question is there enough money in the European Central Bank to provide these bailouts to these countries? Or are some of the countries that took the euro going to switch back to their old monetary system?...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern